The Ministry of Finance has reaffirmed its commitment to strengthening financial literacy among citizens as part of broader efforts to accelerate economic transformation and achieve Tanzania’s Vision 2050, which targets a stronger private sector, improved human capital, and a more inclusive financial system.
The message was delivered by the Deputy Minister for Finance, Mhandisi Mshamu Ali Munde, during a visit to the Ministry’s pavilion at the 50th Dar es Salaam International Trade Fair (DITF), popularly known as Sabasaba, held at the Mwalimu Julius Nyerere grounds in Dar es Salaam.
Munde said the government is deliberately aligning budget priorities with long-term development goals, focusing on empowering citizens economically through access to financial services, expansion of higher education opportunities, and improved awareness of taxation and financial management.
He noted that this year’s Sabasaba exhibition has highlighted notable progress in the use of digital systems within government services, a development he said is improving efficiency and making financial services more accessible to the public.
According to him, digital transformation is now a key pillar in bringing services closer to citizens, reducing delays, and supporting a more productive and transparent economy.
“The Ministry of Finance has placed strong emphasis on increasing both national income and per capita income as the foundation of sustainable development. Our goal is to build a trillion-dollar economy with per capita income reaching about 7,000 US dollars by 2050,” Munde said.
He stressed that achieving such ambitions requires more citizens to participate in the formal financial system, urging Tanzanians to shift away from informal financial arrangements and embrace regulated institutions such as banks, insurance providers, and other licensed financial service providers.
Munde warned that continued reliance on informal lending systems exposes citizens to financial risks, including exploitation by unregulated money lenders commonly referred to as loan sharks.
He said financial inclusion and education remain central tools in protecting citizens, improving savings culture, and increasing access to affordable credit that can support business growth and household development.
The Deputy Minister further said the Ministry, in collaboration with its institutions, is using the Sabasaba platform to provide direct education on financial services, tax compliance, and responsible borrowing.
He said the goal is to equip citizens with practical knowledge that can help them make informed financial decisions.
He added that strengthening financial service delivery systems is essential not only for accountability and efficiency but also for boosting individual incomes, which ultimately contributes to national economic growth.
Munde commended the efforts made so far by the Ministry and its institutions in reaching out to the public during the exhibition, noting that such platforms play an important role in bridging the gap between government services and citizens.
He called for continued improvements in service delivery, emphasizing that a modern and inclusive financial system is critical for driving economic competitiveness and ensuring that growth benefits all Tanzanians.
The 50th Dar es Salaam International Trade Fair, held from June 28 to July 13, marks a historic milestone since its establishment.
The event, themed “The International Trade Fair is Tanzania’s Pride,” also celebrates 50 years of showcasing business, innovation, and economic opportunities in the country.
